Set ALL in-game feedback settings to 100% (see about Soft-Lock below) and then test out the game as it is. It is likely that it will be overpowering at 100%.
Use your Wheel's Config/Profiler to lower the over-all strength of the feedback instead of modifying the in-game settings initially. Do this until you find a good balance of centering torque that suits you. Now modify the Suspension, Tyre Slip and Collision values to taste and you should be right to go!

If you have Soft-Lock enabled, set it to 100% and leave it. However it you have Soft-Lock disabled, take the Degrees Of Rotation you have set on your wheel and devide it by 9. \
Set ingame % to this value.

What it actually feels like :

There are 3 main areas I focused on when trying to get a better balance of effects. Alignment, Suspension, and Skidding.

Alignment forces felt too strong at low speed, or too powerful at high speed. Surface type seems to make little difference to the strength of forces I was feeling.
This is no longer the case. At low speed aligment is almost non-existant. As speed increases the force increases. Surfaces like gravel create additional resistance on the wheel that tarmac does not. On the flip-side tarmac creates a different resistance (grip) that gravel does not. This feels (to me) much more realistic.

Suspension forces suffered from the same thing most game components do. Too little.
I expanded the suspension to have 7 levels of feedback scaled according to the amount of travel experienced. Lower suspension movements translate into the tiniest amount of resistance on the wheel (barely even noticeable) and DO NOT cause the wheel to turn on its own.

Skidding or Tyre Slip gives an almost constant additional surface feedback through the wheel with that feedback changing according to how much grip (or lack of) you have. Combined with the Suspension this tightens the wheel up and really makes you feel the bumps and undulations in the surface.

The over-all effect is a much more realistic feeling. Now Im no expert and obviously this feel realistic to me, but it might not be. Regardless of realism, I think this is a great improvement over the updated FFB. I only rebalanced things this time around, its not a re-write.